E-mini S&P sees broad bull channel

Brooks Price Action - 01-11-2013 Friday

Higher low major trend reversal, broad bull channel

Friday, January 11, 2013

Bar 1 - Yesterday ended with 18 bar bull microchannel so extreme buy climax and should get approx. Ten bar, two-legged correction sideways to down. 81 is the breakout pullback sell or short from the 78 breakout so ok sell or short

Bar 10 - Bear two inside bars at 15 minute 20 bar moving average plotted on a 5 minute chart and bottom of channel but tight channel and not enough buying pressure so don�t buy or long. Might be final flag. Sell or short is hard to manage. Sideways most likely. Looks like bear leg in trading range rather than in trend so should begin sideways soon